FX.co ★ EUR/JPY Reversed Off Resistance, Prepare For Further Drop

EUR/JPY reversed off its resistance at 129.30 (100% & 61.8% Fibonacci extension, horizontal swing high resistance) where it is expected to drop further to its support at 128.84 (76.4% Fibonacci retracement, horizontal swing low support).

Stochastic (55, 5, 3) reversed off near its resistance at 96% where a corresponding drop is expected.

EUR/JPY reversed off its resistance where we expect to see a further drop.

Sell below 129.30. Stop loss at 129.56. Take profit at 128.84.